Monthly Archives: August 2012

Info Exchange – It’s Hard to Be Good

Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics. 

 Loyalty Factor has been instrumental in helping companies:

  • Increase Customer Satisfaction by 20 – 33%
  • Increase Revenues by 50% in 18 months
  • Increase Manufacturing Production by 200% in 18 months
  • Simplifying mergers and acquisitions

Our information exchange this week highlights the Harvard Business Review article, “It’s Hard to be Good” by Alison Beard and Richard Hornick.

 

It’s Hard to Be Good

One of the company’s highlighted in this article is the Broad Group located inChangsha,China. The company was founded in 1988 and has approximately 2600 employees. It develops and manufactures energy-efficient air conditioners that counter intuitively use natural gas or waste heat to cool. It’s better for the environment and avoids ozone-depleting refrigerants used in electric cooling, reducing the load on power grids.

 

Value statements for The Broad Group include: 

  • “Responsibility is more important than growth.”
  • “Protecting the environment is more important than profit.”
  • “Love is more important than anything else.”
  • “If you offer something of social value, you will survive, and you will prosper.”

One may not expect these values from a company based in a hypercompetitive and high-pollution China, or a company with industrial customers in 70 countries and 500 million dollars in sales, and is led by a man worth an estimated 850 million dollars.  

 

According to Zhang Yue, Chairman, “Being good itself is competitive.” His view is “A bad company may be competitive in the market for a while, but it won’t last long. If you offer something of social value, you will survive, and you will prosper.”

 

“If everybody and every business becomes socially responsible,” he says, “then the earth will become a beautiful hometown for us all.” Let’s all work to make the earth a better place for all of us.

 

The question I ask our readers,

“What are you and your company doing
to make the earth a better place for all of us?”

 

To build more responsibility and value in your organization, contact Loyalty Factor. Loyalty Factor’s programs have helped many executives and leaders take their organizations to the next level. Call Loyalty Factor at 603-334-3401 and see how we can help you build a responsibility based culture in your organization.

 

Recruiting and Retaining the Right People!

 As I travel the world and speak with leaders, organizations continually struggle to ensure they have the right talent addressing the business issues at hand.  It is all about recruiting the right people in the right place at the right time. 

 

When I ask leaders what makes someone successful in their organizations, I regularly hear the following characteristics:

 

 

Notice there is very little mention of particular skills.  It is more about the attitude and personal attributes of the candidates.  So the big question is – how do you hire for these characteristics?

 

Without the right tools and techniques, we so often default to common recruiting errors.  We have all done it.  Any of these sound familiar?

 

  • Talking too much about the organization.

 

  • Not listening to the applicant because we’re thinking of the next question to ask.

 

  • Hiring someone who is just like you.

 

  • Hiring the person because we have to fill the position now.

 

  • Recruiting only for the position and not for the values that fit in the culture.

 

Think about your current hiring practices and recruiting techniques, and we’ll talk more about how to do this in our next blog entry. 

 

Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people.  www.loyaltyfactor.com

Info Exchange – Seven Attributes of Work Ethic

Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics. 

 Loyalty Factor has been instrumental in helping companies:

  • Increase Customer Satisfaction by 20 – 33%
  • Increase Revenues by 50% in 18 months
  • Increase Manufacturing Production by 200% in 18 months
  • Simplifying mergers and acquisitions

Our information exchange this week highlights part 2 of the book, “Reviving Work Ethic: A Leader’s Guide to Ending Entitlement and Restoring Pride in the Emerging Workforce by Eric Chester.

 

Seven Attributes of Work Ethic

Work ethic is knowing what to do and doing it. It is marked by an individual’s positive attitude, reliability, professionalism, initiative, respect, integrity and gratitude. Instilling those seven attributes into the hearts and minds of the emerging workforce is the key to keeping our companies – and our country – stable and prosperous. Work ethic is the key to success!

 

Seven attributes of work ethic: 

 

1. Positive Attitude:

Provide employees with living examples of positive attitude in action and put them into situations that allow them to shadow people who model the attitudes desired.

 

2. Reliability:

Set clear expectations for each worker and then hold tight to those standards.

 

3. Professionalism:

It’s vitally important to clarify expectations for professionalism prior to hiring. Explain what it takes to succeed in the organization and give potential hires a chance to respond to make sure they are on the same page.

 

4. Initiative:

Initiative is relevant to the company because it prepares the worker for additional assignments and makes him or her invaluable to the employer. Even though they might not come begging for more work, employees want to know how they can contribute value to the company.

 

5. Respect:

Treat employees with the same degree of respect the organization would like from them and the actions will be mirrored.

 

6. Integrity:

Avoid scare tactics. Leaders have to trust their employees. Millenials hate to be micromanaged. If leaders clearly describe expectations and set high standards, but then constantly look over workers’ shoulders, employees will quickly feel as though they are not trusted.

 

7. Gratitude:

Unfortunately, employees can’t be taught gratitude. Leaders can define it and tell workers that they need to be grateful. They can tell them to smile, say thank you, and be nice to customers and co-workers. Like respect, employees need to embrace gratitude internally to make it last and to make it truly effective.

 

Figure out where employees are, what they feel, what matters to them and then tie things together. By meeting individuals where they are and giving them a reason to move where they want to go, a leader will build the type of work ethic desired in their employees. The shift in their mindsets away from a utilitarian view of work results in an increase in loyalty and decrease in turnover.

 

Loyalty Factor has customized programs to improve employee loyalty within your organization. Call us today to schedule an appointment with the Loyalty Expert – Dianne Durkin!

 

Magnetic Leadership: Its Time to Get R.E.A.L.

In today’s fast moving global economy, change is inevitable.

In fact, leaders need to be continually seeking improvements in processes and procedures to maximize efficiency and effectiveness.

 

 

In the coming weeks, I’ll be focusing on the power of magnetic leadership and how you can energize your organization today by taking steps to arm your employees with the knowledge and stamina to regularly carry out the organization’s goals, and how to create an environment that nurtures and supports results.

 

I like to use the R.E.A.L. acronym as a guide.

 

R

is for recruiting the right people at the right time
in the right place and retaining them.

E

stands for engagement, empowerment and enrichment

A

means appreciating employees

L

stands for leadership and building loyalty.

 

There are many myths about leadership that often prevent people from developing their leadership skills.  They think if they were not born a leader with some magic leadership dust in their DNA, they cannot become one in the future.

 

While some people may be more natural leaders than others, some of the best leaders I have worked with are men and women who went beyond cultivating their own leadership skills and instead created a culture of leadership in their organizations. The reality is that leadership does not belong to just one person.  Leadership inspires others and becomes a contagious force throughout an organization.

 

I’m excited to share how a leader can be a magnet for attracting and retaining top talent while maximizing their skills and efforts to build profitability and productivity.

 

Let’s Get R.E.A.L.

 

 

Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people.  www.loyaltyfactor.com

Info Exchange – Reviving Work Ethic

Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics. 

 Loyalty Factor has been instrumental in helping companies:

  • Increase Customer Satisfaction by 20 – 33%
  • Increase Revenues by 50% in 18 months
  • Increase Manufacturing Production by 200% in 18 months
  • Simplifying mergers and acquisitions

Our information exchange this week highlights the book, “Reviving Work Ethic: A Leader’s Guide to Ending Entitlement and Restoring Pride in the Emerging Workforce by Eric Chester.

Reviving Work Ethic

In February 2010, the PewResearchCenterreleased an extensive report titled “Millenials: A Portrait of Generation Next” that describes this generation (ages 18-29) as “confident, self-expressive, liberal, upbeat, and open to change.”

 

It is history’s first “always connected generation,” the report says, and it’s on track to become the “most educated generation in American history.”

 

We have an emerging workforce that embraces change, is better educated and more innovation-focused than any previous generation, and wants to change the world for the better. At the same time many question whether this generation identifies with work ethic.

 

Three key elements for generating work ethic values are:

  • Relevance. Members of the emerging workforce need to know the “why” before they will take action on the what. “Don’t just tell me what do,” They say (or think). “Tell me why I’m doing it.”
     
  • Reward. There are ways to build in incentives and rewards that encourage and reinforce positive behaviors and create habits that become the building blocks for excellence. Business leaders can create a reward structure that promotes a positive work ethic, not just incentives for those who achieve above-and-beyond excellence.
     
  • Radiate. The most powerful values of an organization are radiated throughout the culture. The key to radiating values is to spread them through teams and organizations.

 

Loyalty Factor has conducted numerous presentation and workshops on how to manage and integrate the newest generation in the workforce. Call Loyalty Factor today to further discuss your workforce dynamics!